University President Lawrence H. Summers pulled in a 32-percent raise last fiscal year, earning $681,735 in salary and benefits, according to documents filed Monday with the Internal Revenue Service.
Across the University, wages and benefits payments rose sharply. Pension plan contributions more than doubled, and total salaries approached $1 billion.
And at $23.1 billion, Harvard’s net assets at the end of fiscal year 2003 eclipsed the gross domestic products of Bolivia and Oman but remained just short of Paraguay and Turkmenistan.
In an interview yesterday, Summers attributed the bulk of his pay jump to a particularly large subsidy for taxes on his apartment in Washington, D.C. He also received a $50,000 raise in standard compensation, according to the tax documents.
Summers declined yesterday to discuss the details of his salary and would not say whether he was scheduled to receive similar raises on an annual basis.
“I think it’s appropriate for me to have some privacy with respect to what I comment on,” Summers said.
Harvard’s tax return, spanning the fiscal year that began July 1, 2002, provides itemized details of the University’s revenues and expenses. And as a non-profit, tax-exempt organization, Harvard is required to report the salaries of its top officers and trustees.
In a separate document filed Monday with the Massachusetts Office of the Attorney General, Harvard also disclosed the salaries of its five highest-paid employees.
TOP EARNERS
Provost Steven E. Hyman earned $409,698 in his first full year as Harvard’s second-ranking administrator, but his salary was eclipsed by at least four of his colleagues.
At Harvard Medical School, Mary F. Campion, former dean for resource development, pulled in $473,216. Campion’s salary bested that of her boss, Dean Joseph B. Martin, who earned $461,227.
Also topping his boss’ compensation, Richard H.K. Vietor, senior associate dean at Harvard Business School, took in $454,966, which beat out Dean Kim B. Clark ’74, whose salary was not listed among Harvard’s top five.
Leading Harvard’s vice presidents in compensation was former Vice President and General Counsel Anne Taylor. Though she worked just two months in fiscal year 2003, she earned $357,704, largely in severance pay.
Her successor, Robert W. Iuliano, pulled in $327,272 for 10 months of work.
Thomas M. Reardon, former vice president for alumni affairs and development, received $342,137. Massachusetts anti-nepotism laws also required the University to release the salary of his brother, John P. Reardon, Jr., executive director of the Harvard Alumni Association, who made $233,362.
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